2022 | Tunisia | Agriculture & Agribusiness

Feasibility study of index-based agricultural insurance for small farmers and agri MSMEs

Context & objectives:

IFC, the private sector arm of the World Bank Group, promotes sustainable private sector growth and is the largest multilateral provider of financing for private enterprise in emerging markets.One of IFC services is to provide advisory to insurance market players and regulators in Africa. Its main objective is to promote the development of effective and sustainable markets for inclusive insurance, thereby improving access to insurance by groups that are un(der)served by traditional insurance markets. This in turn improves their resilience, encourages private investment and supports economic development. Following an itinitial diagnostic and scoping in Tunisia, IFC hired Matine to conduct a survey of smallholder farmers, agri-MSMEs, and local aggregators within 3 sectors (dates, olives, cereals) and collect information required to identify their key risks, current coping mechanisms, potential insurance solutions, and their appetite for index insurance.

Main achievements & impacts
  • Detailed analysis of 3 agricultural value chains, identification of associated risks and proposals for index insurance solutions (weather and yield).
  • 20 interviews conducted with cooperatives, agricultural SMEs, professional organizations representing the 3 sectors, the meteorological institute and the Ministry of Agriculture.
  • A survey of 690 farmers to better measure the impacts of climate change, the risks incurred, the losses suffered, the level of equipment in insurance products, the appetite for index insurance products and the acceptable price level..
  • Presentation of the results during an event with the participation of the Tunisian Federation of Insurance Companies, the General Council of Insurance and representatives of insurance companies"

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